NC Auto Insurance rate revision

Posted by Benji Riggins on February 3, 2009 under Insurance News, Office News | Be the First to Comment

New and renewal policies effective on and after 1/1/2009 are subject to the NC Rate Bureau (NCRB) rate level changes.  The overall rate level change is +9.4% statewide.  The increase will be held in escrow since the NCRB and NC Dept of Insurance disagreed on the amount and the final decision will be made in court.

It is important to note this is the average statewide and will be higher or lower depending on where you live, types of cars you drive, age, and driving record.

In Union and surrounding counties, I’m sorry to report, that among our multiple carriers I have seen along the lines of 15-25% increases.

Although an increase of this magnitude is hard to stomach with the economy in such dire straights, NC drivers need to remember that we had the 5th lowest auto insurance rates in the nation.

Don’t hesitate to contact us for a review of your current policy so we can look at options to help off set the increase you may face.

Benji Riggins